Hong Kong Mogul Mulls Facebook Stake

HONG KONG, December 3: Hong Kong billionaire Li Ka-shing is
said to be in talks to acquire a stake in the popular social networking site
Facebook.

The Wall Street Journal
reported today on its website that Li, the chairman of Hutchison Whampoa (and
father of Richard Li, the former owner of STAR and today the chairman of Hong
Kong IPTV service Now Broadband), is set to make a $60-million investment in
Facebook, which would give him a 0.04 percent share. The speculation has fueled
rumors that Facebook could enter into a partnership with the TOM Group, a
wireless entertainment and online platform active in China and Hong Kong that
Li holds a stake in, in order to facilitate its Asian expansion.

—By Mansha Daswani